Accountability for the retirement industry

Currently the retirement industry is not accountable for their actions as the rest of the aged care industry is. The aim of this petition is to ensure that recent media reports highlighting how some of the retirement industry is treating some of our most vulnerable age group i.e. the elderly, does not get swept under the carpet. The indecent profits that some companies are making come at the cost of our elderly people's standard of living and health.

This is not about making one retirement village accountable, but ensuring the whole retirement village sector is regulated and accountable. As Australia's population is aging, it is critical that we ensure that this is not just a huge profit making machine but an industry that does look offer our elderly and offer a decent standard of living and there are protections in place to ensure they get value for money.

After all, our elderly are paying to enter these villages after a life time of work and supporting our nation.

We need to act now to ensure that the stories that are coming to light do not just disappear. Yes many are happy, but many are not and are being mistreated and lied to about what it is they are investing in. They should be able to age in place as is the current standard under the aged care act. Protect our elderly now from these money hungry businesses!